Steckelberg v. Randolph

HARRIS, Justice.

Plaintiffs, Lester and Norma Steckel-berg, a debt-stricken farm couple, contract ed with defendant Randolph for the transfer to him of their farm, farm operation, and related assets. Under the plan Randolph was to assume control over the property, take charge of the operation, and infuse it with his own capital, all with the goal of successfully conducting the farm and operation through desperate economic times. It was agreed that when the goal was reached and the debts repaid the farm would be reconveyed to the Steckelbergs. Sometime after the arrangement was in place the…